Mindset Pharma Announces Promising Test Results of its Novel and Proprietary Psilocybin-Inspired Compounds

August 31, 2020

TORONTO, Aug. 31, 2020 -- Mindset Pharma ("Mindset"), a leading drug discovery and development business focused on next-generation psychedelic medicines to treat neuropsychiatric indications with unmet needs, announces today the preliminary screening results of certain patent-pending compounds.


Mindset has conducted several pharmacological tests on its proprietary synthesized compounds, including a gold-standard functional assay to determine its molecules' functional activity at the human 5HT-2A receptor and other serotonin subtypes, benchmarking these compounds against psilocin, a major active metabolite of psilocybin. Mindset is pleased to report that these synthesized compounds are acting just as strongly on the 5HT-2A receptor as psilocin, with clear structure-affinity relationship (SAR), and with certain compounds demonstrating a several-fold increase in efficacy and potency compared to psilocin.


Mindset CEO James Lanthier comments, "Next-generation psychedelic compounds that are optimized for their pharmacological profile will be essential to assisting the greatest possible number of patients suffering from neuropsychiatric indications. Additionally, novel, patentable drugs will be crucial to the development of the medical psychedelic market. Our goal with the first two structurally diverse families of Mindset compounds was to design new drug candidates that achieve equal or greater psychedelic effects and therapeutic benefits as psilocybin, but with more targeted results and a narrower range of toxic metabolites.


We are thrilled with these pharmacological test results as they clearly validate the scientific rationale behind our drug design at a molecular level, and we look forward to moving the compounds forward to in vivo testing. The range of clinical indications that we believe these compounds could address is broad and comprises large population groups that are not well managed with currently available medicines.


Coupled with our prior announcement about our ground-breaking chemical synthesis process patent application for psilocybin as well as our drug candidates, we are pleased with our progress at developing next-generation medical assets that should grow in value and utility as regulators increasingly turn toward psychedelic-based treatments to address the crisis in mental health. At Mindset, we are building an intellectual property development engine to meet this pressing need, and we look forward to sharing further news and results of additional innovations shortly.


Additionally, we continue to make progress towards closing our merger with North Sur Resources and expect to have a further update on this process shortly."


For more information, please contact:
James Lanthier
CEO
Mindset Pharma Inc.
jlanthier@mindsetpharma.com


Jason Atkinson
VP of Corporate Development
Mindset Pharma Inc.
jatkinson@mindsetpharma.com


About Mindset:
Mindset Pharma is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs.

Mindset

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